The IBEX 35 index experienced fluctuations in early February 2025, reflecting ongoing concerns over trade tensions. On February 3, the index closed down 1.32%, maintaining just above the 12,200-point mark. However, the following day, it rebounded, opening with a 0.2% increase and remaining above 12,200 points. By February 5, the index gained momentum, reaching 12,500 points, bolstered by a substantial 8% rise in Banco Santander's shares following the release of its financial results. The index's performance is closely monitored in light of the prevailing trade war dynamics.